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20121202
20121210
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department says sandy had only a minimal effect. is it true a clean number and what are conspiracy theorists saying. >>> a comment hastings made last july. what does it say about s.e.c. rules and whether they are out of date. >> mcdonald's will post same store sales on monday gets an upgrade to buy taking the forecast to a street high after surveying franchisees. we begin with november jobs number. 146,000 nonfarm jobs added last month above forecast of 80,000. october and september payrolls were revised lower. unemployment rate fell by 0.2 to 7.7. that's the lowest in four years. the dip occurring mostly because more people stopped looking for work and were not counted as unemployed. as for hurricane sandy, the labor department says the storm did not substantively impact the november results and that probably was the biggest surprise to everybody. >> this is a very strong number. i think only u.s. government now can stop this kind of job growth. a fiscal cliff go over -- >> snatching victory from the jaws. >> a superstorm. nothing can stop the generation of jobs in this economy. >> there's
say the slow down in nonfarm payrolls will reflect the effect of sandy. joining us this hour is bank of america merrill lynch global research senior research economist michelle mire and we'll talk through everything that's been happening through jobs and what to expect. but first, there is a developing story. an earthquake off the northeast coast of japan triggered a tsunami warning. the warning has been lifted, but it was a 7.3 quake. so far no reports of any injuries or damage. it was for the same area devastated by an earthquake and tsunami back in march of last year. we will continue to bring you any developments. in the meantime, steve has some of the morning's top other stories. >> let's start with the markets. asian stocks rallying to 2012 highs overnight. the nikkei edging lower after hitting a se hitting hitting a seven month closing high yesterday. european trading, shares seem to be fwllat. bundesbank announced it had cut its growth outlook for the country. in the u.s., the nasdaq snapped its losing streak yesterday with its first gain in five days. the dow was on pace for
and candy. just one please. >> it is more than a month since super storm sandy chewed up the northeast. so much destruction . a new program bringing smiles to the faces of children affected by the storm. ana is live in staten island, new york. >> hey, harris. camp tlc is for families displaced by the storm. kitteds can be kids while parents run errands or participate in the activities. we'll have more coming up. now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we'
person. he said during hurricane sandy, the agent lives in connecticut, jovan texted him to make sure the agent's family was doing all right in the hurricane. he said it's absolutely out of character for something like this to happen. no previous run-ins with the law that anyone's aware of. so just a lot of shock here, randi. >> and the child, the couple's child, that child was home at the time, right? who is caring for that child now? >> reporter: yeah, the child was at the home with kasandra perkins and jovan at the time of the shooting. his mother was actually, according to the neighbor, his mother had actually been in town for a couple of weeks for the holidays, and we understand that the child and the mother witnessed the shooting, called 911 after belcher shot kasandra perkins and she is now with the child at another location. they, of course, are away from the home now. >> what a tragedy. casey wein, our thanks to you. appreciate that. the kansas city chiefs released a statement following the incident. it reads in part, the entire chiefs family is deeply saddened by today's eve
some big sales but some of it was because of super storm sandy. our phil lebeau is behind t wheel in chicago. >> we knew this would be a better than expected november and look at these numbers. generally speaking with a few exceptions, all of the automakers reported better than expected results last month. gm being one of the exceptions, being just a little bit below expectations. what did we see last month? the sales pace is going to come in probably about 15.2 million, first time over 15 million since early '08. we talked about sandy helping sales. there was also the economy. ford talked about that during the conference call today. ford raised its q1 production by 11% to 750,000 vehicles. compare that to the story of general motors. this worries people from today's auto sales results. gm warning it may cut truck production due to inventory build-up. they're at 139-day supplies of pick-up trucks. some of that is because they built up earlier this year for transition into a new truck. they've been targeting 80 to 85 days truck production. 139 days concerns a number of people. one
to, believe it or not, hurricane sandy. >> jeff flock has the story at the bureau in chicago. hi, jeff. >> indeed. two headlines. sandy one, and the other is fiscal cliff. starting to see the first impacts now in terms of considerations about fiscal cliff on the sales call today with ford keeping production up in the first quarter. they are bullish, increasing production by 11%, and gm holding off on sales forecasts because they are worried about the cliff. look at the numbers. as lori said, gm up 3%, ford up 6%, chrysler up, 30th consecutive month of increases for chrysler, toyota up 17%. gm did well with small cars, we're getting to the point in the country where cars are # getting so old, 11 years is the average age of a vehicle right now, and that is driving it as well. on the sandy front, as we look at the stock numbers, the folks at ford say we are 30,000 additional sales industry-wide because of sandy. toyota said they they 400,000 cars were damaged in sandy, a boost to gm and ford. look at the stock there. ford stock not harmed by news of another recall for them. that rec
. >> you have a combination of 11 year old age of autos, destruction of -- by the way, sandy was an auto destroyer. loss of life. horrible. terrible. it also took out many more cars than people realize. you have to pump overtime to be meet the demand. >> we're still adding up sandy and figuring that out. we're far from figuring that out. hundreds of thousands of automobiles. where are we? 15 plus at the end? >> it's possible. 15. it puts people to work in the country. they don't just add in mexico. mexico is booming. fabulous moment for mexico. they will add in this country too. >> there's talk that their share of the market in the northeast, the big three, is not as high as it is in the rest of the country. we live in part of the country where incomes are higher. you may see better numbers out of bmws and mercedes. >> i don't know the percentage that's brought into the new jersey, new york area, the ones that you always see when you go over a bridge and you look down and this is new york -- i don't mean to be too centric. the foreign cars have to replenish quickly. american cars have to
. the positive side, again, hurricane sandy appears not to have been the job killer many had feared. the labor department says the havoc wrought by sandy had no substantial impact on the unemployment picture. with us now, jill schlessinger, editor at la w manyre the jobs aart me ,ow m t are seasonal jobs? >> not so many seasonal. we saw some broad based gains and we continue to see some really robust gains in retail, in business services, health care is really continuing to show great improvement. you mentioned manufacturing. mentioned one other area, 20,000 jobs lost in construction. that may be a little bit of sandy related. >> but also, one of the interesting things, you looked at the numbers and said there was 300,000 people that said weather did affect the job surge. why is that not considered sandy related? >> it is weird because there are two different surveys when you look at these jobs numbers. one comes from the businesses. the businesses, they take that survey, november 12th, and the businesses are for the job creation number. the other survey is called a household survey. that's h
on the response to hurricane sandy. >> i want to give a big shout out to fema, they are a big partner. >> i commend the fema administrator. >> i thank you, madam chairman. for being a strong leadership. >> i cannot tell you how much the words men. >> the president could not have appoint add better person. >> you and your people have established one thing, that when the call goes out the country is there to help their people. >>eric: but try telling that to some of the victims of sandy. welcome, everyone, i am here for neil cavuto. they could be satisfied but try telling that to this guy. (inaudible). >> they are worried about vandalism or squatters taking over their house. what are you doing? we want a place to call home. we want to be somewhere for the dam holidays not in someone else's house or a hotel or a shelter. we need answers. >>eric: the resident from staten island you just saw, says no one should be patting themselves on the bang. not yet. thank you for joining us, scott. what we need to tell the audience what is behind you, sir? >>guest: this is my house. this is where me and my
as we remind you, thises the number you want to see fall. hurricane sandy's impact continues to slowly but surely subside. we had weekly jobless claims dropping by 25,000 last week to a seasonally-adjusted 370,000. the week's prior total was revised upward to 395,000 from 393,000. and treasury prices rising today, pushing yields back down to their lowest level in more than two weeks. look at this pathetic yield on the ten-year note. it fell two basis points to 1.57%. you're not getting a lot of return there. david: which is why some people are putting their money in stocks. we have all this covered. we have til mulholland in the pits of the cme. we have a street fight. jeff believes there will be a fiscal cliff resolution. david wright, on the other hand, thinks d.c. will avoid the cliff, but it will not stop the bears from coming around this time. let's start with tim at the cme. and, tim, we were talking about what a low yield you get now on treasuries. people are looking for some kind of yield, and the only place you're finding it is in the stock market. >> yeah, that's true. you al
shopping season is going so far. we know that those november retail sales reflected sandy and some other one-time issues. what do you think really is happening behind the scenes in terms of what's happening for holiday shopping? >> well, i think it's the same story every year. the promotions start early, black friday's always a big weekend, this year was no different, and it depends on who you listen to nrf was very optimistic about the estimates, gallup was not so much, and then the sandy-related numbers. there are clear winners and losers here. it's the sandy blameathon, clearly, but some of the winners and losers walmart and limited. >> walmart and limited. who do you think is in trouble. we saw gap shares down by 7%. is that a reflection of the dividend they won't be paying or the special dividend. is there something more with what's going on with stores there? >> well, i think everybody's nervous now, certainly. again, after you saw the tough numbers in november, the question is, do retailers get nervous? do they press the pedal in terms of more and more promotions? gap yesterday wa
is simple, the impact of hurricane sandy. but 146,000 jobs were added and the unemployment rate ticked down to 7.7%. but stalled negotiations in washington have a lot of employers and taxpayers still concerned about what's to come. joining me now is jim, economics correspondence for "economic journal." jim, good morning. >> good morning to you. >> these numbers are much better than the early estimates. what's behind them? >> well, they are better than we thought they would be because it doesn't have any impact of hurricane sandy. there wasn't a big displacement of people looking for work. now, let's get a couple of things down here, though, to start with. there are still 12 million unemployed americans. the unemployment rate fell for reasons that we don't like very much. people leaving the labor force. this is a better report than we expected it to be but still not a great report. >> now the question is, what goes on with the fiscal cliff? could the number get any better? >> i think that is the hope on wall street and republicans that have been talk ug for years and of the business communit
important jobs report of the century. this is a squirrelly one in part because we have the sandy effect in there and i think joe's right, there is going to be to an extent a sandy effect in there. i just want to show you first the claims chart. this is the chart we've been putting up every week since hurricane sandy came through and the pattern of sandy jobless claims relative to katrina. if we don't have that chart -- there it is, great. it goes up and now we're in the down. it may pop back. but the trouble is that the big surge there is probably in the week of -- or is going to affect the week of the employment survey. >> the last week. >> and now, guys, if you have the next one back there, i don't know if you have it, you can see there what we show there is we're looking for only 80,000 jobs on friday. 95 in the private sector. that's a big jobs -- it might be hurricane related, but it could also be cliff related. there's these two things just backing up what joe said, folks, we've got enough to worry about without the stuff that we could probably fix and move on, there's enough goin
here, sandy was terrible. that will subtract from growth. we also have the little twinkie strike which is something that everybody's worried about, so that will subtract. so when you net all those things out, you'll probably get a number closer to 90,000. but when you net those things out, you know in future months you'll get more growth. 2 pch 2.7, a lot was inventory based. so economic growth probably gets weaker. but as the rebuilding takes prar place, the strike resolved, no jobs no doubt. >> so in the meantime we go back above 8%? >> i think there's a chance that you can touch 8%, but i think you'll stay somewhere near the 8% range. >> if you had to make a prediction like i did, i had to make a prediction for where unemployment would be a year from now. i said somewhere in the 7s. >> i think by the end of next year you'll get a near somewhere in the neighborhood of 7.4, 7.5. still in the 7s. because again, we are going to glow next year something close to 2% and probably a little bit below that. that's not consistent with a huge deceleration of the unemployment rate. >> unless the
with the jobs report on friday. so i expect to see hurricane sandy was at play in there. >> figuring into that report. looking forward to that. >>> first it was republicans throwing the president's fiscal cliff plan right back at him. now it's the president's turn. he rejected an offer that included no raise in tax rates for the top 2% of americans, seemed to indicate a little wiggle room on his insistence the taxes go up for the wealthy from 35% to 39.6%. here's what he told bloomberg tv. >> do they have to go up to 39.6% now? >> let me sort of describe the process here for you, juliana. let's let those go up and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax reform, look at what loopholes and deductions both democrats and republicans are willing to close and it's possible that we may be able to lower rates by broadening the base at that point. >> want to get to stephanie cutter former deputy campaign manager for obama 2012. stephanie, nice to have you with us this morning. appreciate your time as always. you're the -- >>
in a state left devastated by superstorm sandy, but this one man made. a train carrying toxic car ge goes off the track and people forced from their homes for days now, and now, another setback in the cleanup efforts. and also, we've all seen our fair share of silly criminal stories, come on admit it, they never get old. and why this pair of ban did i understand could take the cake. >> i think this'll be on world's dumbest criminals, they came in here unequipped and unprepared and ended up leaving their vehicle here. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and even lower than vanguard. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that means with schwab, tdd#: 1-8
and it's expected to be messy between holiday hiring and the aftermalgt of sandy, some analysts say no matter what it shows no one should read much into it. with the holidays upon us how are businesses finding ways to keep jobs and their doors are open while others fail. tom forman went looking for answers in new york. >> amid the bustle of broadway, against the bad economy and the crushing competition at the strand the show goes on. it started more than 80 years ago. this independent bookstore has beaten the odds surviving the great depression, world war ii and fred bass, who was a baby when his dad started the strand says the store is enduring these tough times, too. >> we have good books and good prices. lately we've been selling a lot of new books at discount, but it's mostly used book or out of print books. >> the strand's eclectic approach allows it to appeal to a broad array of clients hunting the trivial and treasured on the shelves like this rare copy of uli. >> the strand success is about more than inventory. employees top to bottom must possess a deep knowledge of books a
/2 minute's time. jobless claims coming in, down and this number should be essentially clean of sandy effects, so finally a clean read as to the claims aspect. but it doesn't look like, jim, that we are set for a lower open today. >> carl pointed out that maybe there's some room between sides. but, look, yesterday was one of those days, show a lot of americans don't even know about the fiscal cliff. paychecks are going to go down, a million layoffs in the defense industry. no one seems to care right now. it's bad. >> you know what we have going for us? the grid, december 17 announced -- on a seasonal basis, they have reiterated once again that it doesn't have the demand to be sold year round, but starting a week from monday. >> i don't buy that. i think they do it because whenever they have mcrib, they're just fighting traffic for mcrib. there are places in the world where the mcrib is on the menu all the time. in case you're there on your vacation. >> i'm learning here all the time. i'm always learning. >> switch from the bacon cheese-inator. [ bell rings ] . >> celebrating the groun
the economic impact of hurricane sandy at $40 billion. >> can you believe that? $40 billion. it's astounding, every day the suffering continues. >> governor chris christie is expected to come to washington to press his case. both christie and andrew cuomo are asking for full compensation. the white house is expected to ask congress for more money to cover the cost of disaster response and recovery from the storm. and helping to boost auto sales, giving the industry its best numbers in four years. analysts are optimistic the trend will continue as cars on the road, age and need replacing. ford plans to up its production by 11%, convinced that consumers will continue to buy and as we know have been on the cutting edge of growth. they really have. >> we have senator coburn, form er national security adviser dr. brzezinski and senator claire mccaskill. >> that's a great show. ♪ you are my sunshine, my only sunshine ♪ ♪ you make me happy [ female announcer ] choose the same brand your mom trusted for you. children's tylenol, the #1 brand of pain and fever relief recommended by pediatricians
for money. he wants fema to reimburse the state for 100% of its emergency costs following superstorm sandy. fema generally reimburses states in the ballpark of 75% of costs following disasters like this. the governor says cleaning up and repairing new jersey after the superstorm could cost nearly $40 billion. >>> an extramarital affair ended his stellar career of public service. but not so long ago there was some serious talk that general david petraeus might run for president. some of that talk apparently even came from the top at fox news. washington post bob woodward writes about some private recordings in which fox news analyst k.t. mcfarland meeting with general petraeus in afghanistan in the spring of last year delivered a personal message from roger ales. >> he says if you're offered chairman, take it. if you're offered anything else, don't take it, resign in six months and run for president. okay. i know you're not running for president. but at some point when you go to new york next, you may want to just chat with roger and rupert -- >> well, rupert, look, what i have told people
at the white house. the republican governor was here in washington to talk about hurricane sandy relief efforts, and now they're in danger of going over the fiscal cliff with the rest of the country at the end of the month. our national political correspondent jim acosta has been covering this story for us. what's the latest with chris christie in washington. >> reporter: this is some of the unintended consequences of the fiscal cliff. after a series of meetings with the president and house speaker john boehner, new jersey governor chris christie had little to say as he left washington, but as other senators we spoke to see it, the jersey shore may be running head on into the fiscal cliff. he visited the president at the white house, then he met with senators from his own state before slipping in to meet the speaker of the house. >> going home, guys. see you later. >> reporter: but then chris christie, a potential presidential candidate who is rarely at a loss for words, departed the nation's capital in near total silence. as it turns out, the new jersey governor's quest for money to rebuild th
Search Results 0 to 22 of about 23 (some duplicates have been removed)